The Federal Reserve's approval of the rule sends a clear signal, bank analyst Mike Mayo of CLSA says.» Read More
WASHINGTON, Dec 10- Wall Street banks will need to prove to regulators that certain trades are done on behalf of clients and are not veiled speculative bets as part of the final Volcker rule that U.S. officials plan to adopt on Tuesday, a senior regulator said.
*WTI-Brent spread narrows as TransCanada fills pipeline. LONDON, Dec 10- Brent crude oil rose above $110 a barrel on Tuesday, recouping some of the previous session's losses- the sharpest in over five weeks. Brent for January was up 80 cents at $110.19 a barrel by 0952 GMT, having risen briefly by more than $1 to $110.45.
SINGAPORE, Dec 10- Brent crude rose toward $110 a barrel on Tuesday, recouping some of the previous session's sharp losses, as data from China reaffirmed signs of stabilising growth and fuel demand in the world's second-largest oil consumer.
WASHINGTON, Dec 10- U.S. regulators are set on Tuesday to approve a rule to rein in risky trading by banks, a crucial part of their efforts to reform Wall Street and prevent another costly taxpayer bailout.
Morgan Stanley analyst Matthew Grainger on Monday upgraded his rating on Kraft Foods Group Inc., saying there is still a good long-term growth story ahead for the food company. The analyst upgraded his rating to "Overweight" or "Buy," from "Equal-weight" and raised his price target to $60 from $55.
NEW YORK, Dec 9- Charles Schwab Corp on Monday said it will rebate quarterly fees paid by clients in its fee-based investment advisory programs "if, for any reason, they are not happy" with the service they receive. Firm founder Charles Schwab told Reuters he hoped the move would be disruptive to the financial advisory industry.
LONDON, Dec 9- Brent crude fell almost 1.5 percent to around $110 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.
LONDON, Dec 9- Brent crude oil slipped to around $111 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.
HONG KONG, Dec 9- KKR& Co LP and Bain Capital are among suitors which have placed initial bids for Tyco International Inc's South Korean security systems unit, a business valued at about $1.6 billion, people familiar with the matter said.
*China Nov copper imports up 7.1 pct on month to 435,613 T. SINGAPORE, Dec 9- London copper edged down on Monday, with concerns about the United States curbing its commodity-friendly stimulus as soon as this month overshadowing stronger demand signals from a step-up in monthly imports by top consumer China.
"For something of this magnitude and this controversial... there will be somebody who will challenge it," said Brian Cartwright, an advisor at consultancy Patomak Global Partners and a former general counsel at the Securities and Exchange Commission, one of the agencies voting on the measure.
Federal authorities have obtained confidential documents that shed new light on JPMorgan Chase's decision to hire the children of China's ruling elite. The New York Times reports.
The documents show that a JPMorgan program designed to prevent questionable hiring practices was ultimately viewed inside the company as "a gateway to doing business with state-owned companies in China," the Times said, adding that it had reviewed copies of the emails and computer spreadsheets.
McKinsey believes massive sums of capital will be needed to keep up with the world's development.
NEW YORK, Dec 6- General Electric Co has agreed to pay as much as $18.25 million to settle a class action lawsuit accusing it of rigging bids for municipal securities, court papers filed on Friday show.
Shares of General Motors rose to their highest level since re-entering public markets more than two years ago, as investors continue to await a sale of the rest of the GM stake owned by the U.S. government. THE ANALYSIS: Morgan Stanley analyst Adam Jonas said the company must be cautious about returning too much cash to shareholders in the form of buybacks.
DETROIT, Dec 6- General Motors Co's decision to pull the plug on Chevrolet in Europe is one of several calculated moves the U.S. automaker appears to be making around the world that analysts and investors say are long overdue if the automaker wants to boost profits in line with its rivals.
Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
Consumers have feasted on discounts this holiday season, but it means thinner profit margins for retailers.